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 Leasehold strata condo, Renew lease tenor upon vp

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bubblesbee
post Jun 16 2021, 11:14 PM

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QUOTE(boyslikeboys @ Jun 2 2021, 09:28 PM)
May I clarify what are the developer’s mandates / responsibilities in renewing lease tenor upon handover?

If all purchasers unanimously agree to put forth the application for renewal obviously with premium incurred - will this be sufficient to set the motion for developer to act?

https://www.starproperty.my/news/81902/exte...or-kuala-lumpur
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Hi, properties sold by developers are usually still 90 years and above for leasehold properties.

Upon expiry of your lease, (assuming 90 years later), usually the JMB will raise it within the residence and apply for the extension of lease, which later on will be divided as per the size of your unit unless there is an acquisition of property by the government, usually, the extension will be allowed by the land office.

Hope this helps

 

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